Reilly: Offer ‘Total Solution’ Rather Than ‘Naked Products’
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Reilly: Offer ‘Total Solution’ Rather Than ‘Naked Products’
Credit: Greg Christensen Photography
“There is no more ‘free’,” price consultant Tom Reilly declared. “There is a fee for free. Somebody has to pay for all that ‘free’.”
Do you think ‘free’ grew on a tree?” Reilly asked the joint meeting of the National Fastener Distributors Association and Pacific-West Fastener Association.
In presentations on “Crush Price Objections” and “Value-Added Selling” Reilly advised conference attendees that the “only response to price resistance you will ever need: ‘Mr. Buyer, if your real concern is money, that is the most compelling reason you should choose our solution’.”
• “Long-term is always a better discussion with a customer than short-term,” Reilly said.
• You are offering “total solution” rather than “naked products’. You are a partner vs. warehouse. It is relationship vs. transaction. It is ‘money’ vs. ‘price’.”
• Refer to yourself as a “partner” and your competition as a “supplier.”
• “Price shoppers want to strip value,” Reilly said. You have to show them why “cheap price is a lousy value.”
• Your company’s “elevator speech” should be on one piece of paper and be a “succinct overview designed to pique interest in hearing more.”
For the rest of the Tom Reilly presentation, FIN Subscribers can CLICK HERE.
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